Sensex sinks 617 pts, Nifty ends at 22,333; BSE SmallCap, SBI tank 2% each

Stock market highlights on March 11, 2024: Sensex, Nifty end with sharp losses; BSE smallcap index, SBI sink 2 per cent each

9:11 AM

Pre-open: Nifty at 22,517

9:07 AM

Rupee appreciates 8 paise to open at 82.71/$ on Monday

9:00 AM

India's valuation premium justified, can sustain if not expand: Rahul Singh

Equity market returns in the near term will be driven by earnings growth, considering there is limited scope for valuation rerating, says RAHUL SINGH, chief investment officer-equities, Tata Mutual Fund. In a telephonic interaction with Abhishek Kumar, Singh mentions that the only headwind for the market could emerge on the rural demand front. Edited excerpts:

8:57 AM

Sebi mandates registration of index providers under regulatory fold

The Securities and Exchange Board of India (Sebi) has mandated registration of index providers managing “significant indices” based on securities listed in India to foster transparency in governance and administration of financial benchmarks in the securities market. READ MORE

8:54 AM

New business to steer gains for Tata Consumer Products in growth aisle

The stock of Tata Consumer Products reached its all-time high on Thursday and has been the highest gainer in the National Stock Exchange Nifty and the Nifty FMCG over the past month. The sixth-largest consumer company by market capitalisation has gained 75 per cent over the past year, with about 44 per cent of those gains coming in the last three months. READ MORE

8:51 AM

Have achieved full compliance with RBI requirements: IIFL Fin's A K Purwar

IIFL Finance, which is facing regulatory restrictions on extending gold loans, could see a 25-30 per cent impact on business in the coming quarters, A K Purwar, chairman and independent director, said in an email interview to Manojit Saha. Edited excerpts:

8:49 AM

Stocks to watch: Torrent Power, Vedanta, InterGlobe Aviation, Coal India

Equity benchmark indices Sensex and Nifty are expected to start on a tepid note ahead of weak global cues. At 8 a.m. the Gift Nifty futures hinted at a 50-point gap down on the Nifty, on quoting around 22,405-odd levels. READ MORE

8:47 AM

Will Tata Group shares halt their one-way rally? Check details here

Tata Group shares may witness profit booking on Monday, March 11, amid reports that the company is looking at ways to avoid going public next year. READ MORE

8:43 AM

JM Financial shares eye another round of panic selling; here's why

Sebi has barred JM Financial from accepting new mandates to act as a lead manager for the public issue of debt securities. READ MORE

8:40 AM

What could weigh on InterGlobe Aviation shares today? All you need to know

Rakesh Gangwal could sell a 3.3-per cent stake (130 million shares) in IndiGo to raise around $450 million. READ MORE

8:37 AM

Nifty 50 index needs to breakout from this trading band for a directional move

According to Ravi Nathani, an independent technical analyst, the Nifty 50 index is seen range-bound between 22,400 - 22,580. READ MORE

8:35 AM

Asian Market Update:: Nikkei slumps 2.5% on profit-taking

Source: Yahoo Finance

8:29 AM

China swings back into inflation in February with 0.7% gain in CPI

>> China’s consumer price index climbed 0.7% year-on-year in February, marking the first time in four months that the country’s inflation rate rose.

 

>> The figure is a marked reversal from the 0.8% fall in January, which also was China’s largest rate of deflation since September 2009. It also beat the 0.3% rise that economists polled by Reuters were expecting.

 

>> On a month on month basis, the CPI rose 1%, higher than the 0.7% expected by the Reuters poll and compared to the 0.3% rise seen in January.

 

>> Separately, the country’s producer price index slipped 2.7% year-on-year, more than the 2.5% fall in January.

Source: CNBC

8:28 AM

Japan averts technical recession as revised fourth-quarter data shows economy grew 0.4%

>> Japan posted a revised fourth-quarter GDP growth of 0.4% on an annualized basis, averting a technical recession.

 

>> This comes after earlier estimates had shown that Japan’s economy shrank 0.4% in the fourth quarter on an annualized basis, following a revised 3.3% slump in the third quarter, fulfilling the definition of a technical recession.

 

>> A positive GDP reading could clear the way for the Bank of Japan to raise rates sooner rather than later.

Source: CNBC

8:21 AM

Commodity corner :: Oil prices weak; Brent crude down nearly 1%